Midland Bank, India’s Exim Bank sign MoU

Midland Bank signed an issuing bank agreement with the Exim Bank of India under the latter's Trade Assistance Programme in Dhaka yesterday.

Md Ahsan-uz Zaman, managing director of Midland Bank, and Tarun Sharma, chief financial officer of the Exim Bank of India, signed a memorandum of understanding (MoU) to this end at the former's head office in Gulshan, said a press release.

Under this agreement, Midland Bank is going to enhance its existing support for their corporate and SME clients' trade finance needs in India.

The Exim Bank of India is a specialised financial institution wholly owned by the Indian government that has a presence in foreign cities around the world.

It is the Export Credit Bank of India to support their local export business.

Besides, it has expertise in corporate business, guarantee business, trade finance business and project financing along with other banking services.

Midland Bank believes this agreement will further expand the relationship between Bangladesh and India.

Khondkar Towfique Hossain, head of international division of Midland Bank, and other senior officials from both organisations were present.